(MENAFN- PR Newswire)
New smart system aims to enhance transparency and accountability, driving economic growth in Ukraine's emerging industrial sectors
WALNUT CREEK, Calif., Nov. 8, 2024 /PRNewswire/ -- Vantiq , the leading platform for creating and operating intelligent systems of scale, is honored to announce a partnership with the Economy of Trust (EoT) and the Mayors' Club in Ukraine to develop the country's first Economic Transparency Operating System (ETOS). This innovative smart system aims to enhance transparency, accountability and growth within Ukraine's emerging industrial parks by streamlining data collection, optimizing resource allocation and ensuring real-time management of key performance indicators. The partnership was officially unveiled at the Economy of Trust event today, where both organizations outlined their commitment to driving economic resilience and fostering a sustainable industrial ecosystem in Ukraine.
By leveraging Vantiq's advanced intelligent systems, ETOS will provide a comprehensive framework for monitoring and managing economic activities within these newly erected industrial parks, facilitating real-time insights and data-driven decision-making. This collaboration represents a significant step towards creating a more transparent and accountable economic environment, ultimately contributing to the stability and growth of Ukraine's industrial sector.
In partnership with the Mayors Club of Ukraine, the Economy of Trust is set to establish over 100 industrial parks across 62,500 square kilometers, enhancing the lives of 2.5 million citizens. Vantiq's donation of its real-time intelligent software platform will empower city leaders and investors, driving sustainable growth and infrastructural recovery with a commitment to 'AI for Good.'
"We believe that AI and real-time data technology can be powerful forces for good," said Marty Sprinzen, CEO of Vantiq who is of Ukrainian descent. "Our mission with this donation is to help Ukraine rise stronger and more transparently, setting the stage for sustainable development and global investment. The Economy of Trust is doing critical work, and we're honored to support them with technology that will enable real-time transparency and trust in Ukraine's future."
Vantiq's software donation, valued at $500,000, aligns with its 'AI for Good' initiative, aimed at revitalizing Ukraine's industrial sector. The Economy of Trust is dedicated to combating corruption through trust and transparency models, laying the groundwork for sustainable economic growth. By harnessing digital technologies and decentralized assets, EoT aims to position Ukraine as an industrial powerhouse, effectively utilizing its natural resources and skilled workforce.
"The Economy of Trust is dedicated to building a brighter future for Ukraine, where our citizens are empowered through innovation and community resilience. Our partnership with Vantiq to develop the Economic Transparency Operating System (ETOS) helps foster an environment of collaboration and trust that accelerates recovery and revitalizes local economies. Together, we will create pathways for global investment and ensure that every Ukrainian can benefit from the nation's growth and prosperity," said Henry Shterenberg, CEO and Founder of EoT.
About Vantiq
Vantiq is a global leader providing a software platform for creating and operating intelligent systems and is committed to the 'AI for Good' movement. Vantiq's technology enables the rapid development of applications for smart cities, industrial automation, and IoT, helping organizations create resilient, transparent, and sustainable operations. Learn more at
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About The Economy of Trust
The Economy of Trust is a Ukrainian economic development group focused on using transparency and trust-driven models to combat corruption and enable growth. EoT aims to turn Ukraine into a global industrial and manufacturing hub, leveraging digital technologies to attract investment and create long-lasting economic success.
Media Contact:
Maria Brown
315-719-3856
[email protected]
SOURCE Vantiq
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